Market Challenges And Opportunities

Increasing approval for non-invasive biosensor devices is expected to drive growth of the global market

In 2016, Nemaura Medical, Inc. received CE approval in the European Union for its sugarBEAT, a minimally invasive wireless continuous glucose monitor. SugarBEAT CGM system is available in the form of sensor patch and provides glucose readings on a standalone reader, smart watch or smart phone app via Bluetooth. In March 2018, Nemaura Medical, Inc. expanded its manufacturing facilities for large scale production of its new SugarBEAT CGM system. The company is expected to launch its product in the U.K. in the near future. The approval and launche of such novel devices is expected to create a lucrative environment for growth of global non-invasive biosensor market in the near future.

Increasing prevalence of diabetes is expected to increase demand for non-invasive biosensors for diagnosis

According to World Health Organization (WHO), 2014, around 8.5% of adults aged 18 and above accounting for 422 million adults were suffering from diabetes worldwide. According to National Diabetes Statistics Report 2017 published by Centers of Disease Control and Prevention (CDC), around 9.4% of the population in the U.S., which includes all age groups i.e., pediatric, adults, and geriatric population accounting for 30.3 million people are suffering from diabetes whereas 33.9% are diagnosed with pre-diabetes. Increasing prevalence of diabetes is expected to increase demand for novel diagnostic devices such as non-invasive glucometer and this is expected to drive growth of global non- invasive biosensor market.

Furthermore, key players in the market are participating in various conference and symposium, in order to showcase their novel non-invasive biosensors. For instance, in 2017, Integrity Applications Inc. exhibited its new GlucoTrack at American Diabetes Association’s 77th Scientific Sessions held at San Diego, U.S.